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Roadzen clarified its Q1 FY2026 results, reporting record revenue of $10.9 million, up 22% YoY, and continued improvement in adjusted EBITDA. Certain media outlets inaccurately reported analyst expectations, stating a revenue expectation of over $21 million. The company's actual revenue of $10.9 million was modestly below estimates of $11.4 million, and GAAP EPS was $(0.05), in line with analyst expectations.

Roadzen, an insurance technology company specializing in artificial intelligence-powered solutions for underwriting, claims, and telematics, reported its Q1 FY2026 earnings on August 13, 2025. The company posted its highest-ever Q1 revenue of $10.9 million, a 22% increase year-over-year (YoY). However, this figure was modestly below the analyst estimate of $11.4 million, representing a 4.4% miss. The company also reported a GAAP earnings per share (EPS) of $(0.05), which was in line with analyst expectations.

Key financial highlights include a gross margin of 58.9%, up 19.7 percentage points from the prior year, and a net loss (GAAP) of $4.0 million, a significant improvement compared to the $48.4 million net loss reported in the same quarter last year. Adjusted EBITDA, a non-GAAP metric, also improved, with the company reporting a loss of $1.4 million, compared to a loss of $2.8 million in the same quarter last year.

The company's Insurance as a Service (IaaS) segment saw a decline in volumes and revenue, which negatively impacted the IaaS segment's overall performance. In contrast, the brokerage solutions segment, where Roadzen distributes insurance products but does not underwrite risk, grew rapidly, accounting for 53% of the company's total revenue. Brokerage revenue jumped 86% YoY, while the number of policies sold and gross written premium also increased.

Roadzen secured several notable global partnerships during the period, including plans to equip truck fleets with its DrivebuddyAI platform in India and partnerships with leading car manufacturers and retailers in the United Kingdom. However, the release did not specify when these deals will generate revenue, making the near-term financial impact uncertain.

The company added approximately $4.5 million in capital via two placements at a 20% premium to market price in the last week of July 2025, subsequent to the quarter. Roadzen also delayed vesting of executive compensation to align incentives.

Looking ahead, investors should monitor Roadzen's ability to regain growth in the IaaS segment, sustain brokerage expansion, and successfully convert its strengthening contract pipeline into revenue. The company aims to reach Adjusted EBITDA breakeven and continues to navigate complex regulatory environments.

References:
[1] https://www.nasdaq.com/articles/roadzen-posts-22-q1-revenue-gain-0
[2] https://www.mitrade.com/insights/news/live-news/article-8-1044007-20250815